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[ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] Re: "Never give in. Never. Never. Never. Never." Posted by Ward-CA- on August 11, 2001 at 11:46 PM In Reply to: Tracking down Junior Benes posted by Rick on August 11, 2001 at 10:41 AM : I researched out a junior lien buyout prospect and found that it may be a very good deal worth pursuing. I tried contacting the junior lien holder on record, which was a small finance company based in Dallas, Texas. However, I got a phone recording that explained that the company recently went bankrupt and it was a subsidiary company of a larger company. So far, I have been unsuccessful in penetrating through the layers of the larger company to find out who is the appropriate person to talk to regarding the junior note. Is this deal worth pursuing further or is it dead in the water because of the bankruptcy and, therefore, my time would be better spent pursuing other deals? : In terms of practicality, how extensive should my efforts be in overcoming obstacles that get in the way when pursuing junior benes? Is there a rule of thumb? =•=•=•=•=•=•=•=•=•=•=•= Rick, after 20 years in this business I’m convinced that the harder something is, the better it is. That’s because complexity insures that you won’t have too much competition. It sounds like you are ready to throw in the towel. Personally I don’t think this business is hard enough. I truly wish it was a lot, lot tougher. My best advice for you is to become passionate about this deal. Not so much for the money as for the techniques you’d learn that would help you track down other decision makers in the future. Really, think about it. What do you have to lose if you persist a little more?? A little less time in front of the TV? You’ve got a great lead in that the company is in bankruptcy. Get online access to any and all bankruptcy records throughout the country by signing up for the bankruptcy court’s PACER (see link below) service. It’s incredibly cheap and allows you to examine the docket of any party in bankruptcy anytime and anywhere in the U.S. The bankruptcy filing will give you clues of who to contact—the bankruptcy trustee, the lawyers representing the company and the officials of the company. I like two quotes of Winston Churchill’s: “Never give in. Never. Never. Never. Never.” and “Success consists of going from failure to failure without loss of enthusiasm.” Public Access to Court Electronic Records Follow Ups: Post a Followup: Name : E-Mail : Subject : Comments: : : I researched out a junior lien buyout prospect and found that it may be a very good deal worth pursuing. I tried contacting the junior lien holder on record, which was a small finance company based in Dallas, Texas. However, I got a phone recording that explained that the company recently went bankrupt and it was a subsidiary company of a larger company. So far, I have been unsuccessful in penetrating through the layers of the larger company to find out who is the appropriate person to talk to regarding the junior note. Is this deal worth pursuing further or is it dead in the water because of the bankruptcy and, therefore, my time would be better spent pursuing other deals? : : In terms of practicality, how extensive should my efforts be in overcoming obstacles that get in the way when pursuing junior benes? Is there a rule of thumb? : =•=•=•=•=•=•=•=•=•=•=•= : Rick, after 20 years in this business I’m convinced that the harder something is, the better it is. That’s because complexity insures that you won’t have too much competition. It sounds like you are ready to throw in the towel. Personally I don’t think this business is hard enough. I truly wish it was a lot, lot tougher. : My best advice for you is to become passionate about this deal. Not so much for the money as for the techniques you’d learn that would help you track down other decision makers in the future. Really, think about it. What do you have to lose if you persist a little more?? A little less time in front of the TV? : You’ve got a great lead in that the company is in bankruptcy. Get online access to any and all bankruptcy records throughout the country by signing up for the bankruptcy court’s PACER (see link below) service. It’s incredibly cheap and allows you to examine the docket of any party in bankruptcy anytime and anywhere in the U.S. The bankruptcy filing will give you clues of who to contact—the bankruptcy trustee, the lawyers representing the company and the officials of the company. : I like two quotes of Winston Churchill’s: “Never give in. Never. Never. Never. Never.” and “Success consists of going from failure to failure without loss of enthusiasm.” Optional Link URL: Link Title: Optional Image URL: [ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] WWWAdmin 2.0a © 1997 Matt Wright and DBasics Software Company, All Rights Reserved

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